****ty life

[Elsa TLC]

I didn't. I said he couldn't open a LISA.




I ddi make a mistake witht he qualifying age to open it.
You have to be under 40 to open it, not under 60 as I mistakenly suggested.
As Elsa is over 60, the original "he can't, he's already passed 60" applies.

How have I come into this ?

 

[King Billy]

How have I come into this ?

Sorry, my mistake. I meant Koolpc.

 

[motorbiking]

You seek to flatter.

I'm surprised you didn't chip in given your experience of leveraging benefits through manipulation of income.

 

[motorbiking]

How have I come into this ?

and who is Lisa?

 

[pete01]

You seek to flatter.

That hurt

 

[King Billy]

The purpose of suggesting a SIPP was to move savings which affect benefits into a pension which might not, as well as leveraging tax benefits without any significant consequences.

There isn't much point in the OP transferring money to his daughter to fund her LISA, when the local authority/dwp will deem it a Deprivation of capital. This risk still occurs with a SIPP, but it is less likely.

I'd have thought £4,000 pr year, spread out over the year would be hardly noticable, passed off as living expenses.
But I wouln't reccomend a LISA unles they were sure it was the right vehicle for them.
As you say, it must be in his daughters name, assuming it's for a first-time-buy.

 

[Odds]

Thats what yoy say about me..

...because it's true.

 

[motorbiking]

I'd have thought £4,000 pr year, spread out over the year would be hardly noticable, passed off as living expenses.
But I wouln't reccomend a LISA unles they were sure it was the right vehicle for them.
As you say, it must be in his daughters name, assuming it's for a first-time-buy.

They will see it as a deprivation of capital and if she invests it in a locked in vehicle such as a LISA or her own SIPP, then they will be in a mess.

Shelter Legal England - Universal credit capital rules - Shelter England

Property, savings and other capital are taken into account when assessing entitlement to universal credit, unless they can be disregarded.

england.shelter.org.uk

Moving some money to a SIPP in his own name is genuine retirement planning, and less likely to be seen as notional capital. There are also tax advantages.

 

[motorbiking]

Anyway back to the OP,
Have you explored your entitlement to ESA?

Employment and Support Allowance (ESA)

Employment and Support Allowance (ESA)

Employment and Support Allowance (ESA) money if you cannot work because of illness or disability - rates, eligibility, apply, assessment.

www.gov.uk

Your sciatica/knee issue is impacting your ability to work full time.

 

[kingandy2nd]

Nope...housing issue back to square one....I don't want to talk about...

Sorry to hear this. Keep at it Koolpc

 

[noseall]

I'm surprised you didn't chip in given your experience of leveraging benefits through manipulation of income.

You are confusing me with someone that thinks about money 24/7. Not interested.
I will point out lies and liars though.

 

[cdbe]

I meant "fund" the LISA for his daughter. But irrelevant as she's abandoning the UK. I've just started one for my eldest. I transfer him £4k, sit there while he transfers it to the LISA app which on my phone (funds have to come from his named account). He's young and has no interest in it - not that I don't trust him but I don't trust him - I want him to forget all about it. We'll fund it for 10 years, and same for his younger brother, so 40k each gives them 50k plus interest - I hope about 60k when they get to 30.